Chairman of the House Energy and Commerce Committee’s Oversight and Investigations Subcommittee, Cliff Stearns (R-FL), released this statement: “President Obama was prophetic this week during his State of the Union address when he casually remarked, ‘Some technologies don’t pan out; some companies fail.’ Unfortunately, you can now add Ener1 to the growing list of failed companies that went belly up after hundreds of millions of dollars in administration backing.”

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Vice President Biden frequently called the company “Enron One” in error when promoting it last year.